French 75 % "millionaire tax" - it's a wealth tax!

Only if you want me to spit on people!

 

The "heavy weight mega rich" don't pay many taxes.
Kiyosaki is right: taxes are for the poor. I reckon even millionaires fit into the "poor" category.

I wonder what would happen if some government created a "billionaire 75 % wealth tax" or "billionaire bail-in"

 

maybe a tv show where the public calls in how much to $ to take from a billionaire- can be knowledge, sport.... based. Would be fun to watch. Instead of a quiz game show called millionaire call it "tax time" and the goal of the player is to get to 0 % tax if they fail from begining 75% tax

 

You know that billionaires are included right? It's just that they have more resources at their power to help dodge said taxes

 

Like Warren Buffet paying less tax than his secretary?

 

Well, there is no dodging as such - rather a relocation of the residence out of the country into a more accommodating jurisdiction.

 

The secretary paying 35% on her $80,000 salary (or whatever) pays more than Buffet paying 15% capital gains on multimillion dollar investments?

 

So they say. Personal income tax that is.
Own little. Use lots.

 

No. Buffet pays more just that his average tax rate is lower than his secretary's. However, in fact Buffet may even pay a higher rate overall as well since his "capital gain/dividends" based income is taxed at something like 15% but this comes from his business profits that have already had to pay company tax of 30-40% before it could be paid to Buffet.

Edit: Grammar fixes.

 

Well, all incomes above 1 million EUR...
Actually, I was wondering - what would happen if they created a tax for billionaires and major companies specifically. Not that I would like that, just wondering!

It's the poor that are heavily taxed.